J.P. Morgan, U.S. Spar in Energy-Manipulation Case

By

Ryan Tracy

July 3, 2012 12:49 p.m. ET

WASHINGTON—A J.P. Morgan Chase & Co. subsidiary may have received at least $73 million in "improper payments" as a result of potential manipulation of electricity markets in California and the Midwest, U.S. regulators said.

The Federal Energy Regulatory Commission on Tuesday disclosed new details of its investigation of the bank in filings with the U.S. District Court in Washington, D.C. The agency and the bank also are...